Quick Loans for Bad Credit

£100 - £5,000 paid out by 12:21am

How much would you like?


Representative 669.35% APR

Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).
*Subject to application being approved by the lender. Not all lenders are able to provide up to £5000.
*Omacl will not perform a credit check but lenders will determine your loan eligibility by performing a soft search. If you accept the loan offer presented to you, a hard credit search will be performed.

Is it Worth a Getting Quick Loan With Bad Credit?

We hear stories in the press about how quick loans for bad credit are not a good thing. It is hard not to be aware of tales of people who have found themselves in financial trouble as a result of this. However, there are also many people who have found short term loans to be very useful and they used them to their advantage. It is important to understand a bit more about short term borrowing when you are considering a loan, even if it’s just a £1000 loan, so that you can decide whether it is the right solution for you.

Making best use of loans

The best way to make sure that the loan is the best solution for you is to use it really well. There are a series of things that you can do in order to make sure that you get the best from your loan.

Check you really need it

Every time we borrow money, whatever type of borrowing we choose and whatever type of loan from mortgages to quick loans for bad credit, we need to have a think about whether we really need the loan. All loans cost money and often come with stress and worry as well. We need to be completely sure that a loan is the right thing for us. Consider whether the money that we are borrowing is really necessary and whether it will offer us good value for money considering the cost of it.

How much would you like?

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Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable). 

Borrow the minimum amount

All loans will be dearer if we borrow more money. It is best to keep the cost of borrowing down to a minimum and therefore by borrowing only what we really have to, we will not have to pay so much in interest and fees. It is therefore really important to make sure that you carefully calculate how much you do need to borrow. Consider the cost of the item that you are taking out the loan to cover and how much it costs and do your best to only borrow that amount. A short term loan can be easier for this as traditional lenders tend to lend much larger amounts.

Find the cheapest loan

If you find a cheaper loan, it means that you will not be paying more in fees and interest than you actually need to and therefore can save money. By comparing the rates of the different lenders it will be possible for you to see who is cheapest and make sure that you do this. This can be quite tricky though as there are many different lenders in the market. Therefore it can be easier to use a company such as Omacl who will do the work for you. They match your requirements with a specific lender who is willing to offer you (or close to it) the amount of money you’re looking to borrow. You can then choose whether or not to accept the offer.

How Does Omacl Compare?

Why Use Us?
How much can I borrow?
Up to £5,000
No hidden fees
Chance of getting approved?
High approval
What are the repayment terms?
1 - 36 Months
No paperwork.
How do I apply?
Apply Online
2 min Application
Do I need to pay back a lump sum?
Easy repayments

Repay it on time

It is really important to pay loans back on time because otherwise the lender will charge you extra money. It can all be very well, finding the cheapest loan that you can, but if you do not pay it back on time it could end up being extremely expensive. Therefore, before you even take out a fast loan, it is important to make sure that you will have the resources to repay it. You need to consider whether you normally have enough money available that would cover the cost of the repayments. If you do not, then you need to think about how you will get that money.

quick loan for bad credit

There are lots of possible ways, such as selling things, working more hours and cutting spending, but you need to find a solution that will be right for you and your personal situation. It is important to realise that different loans have different repayment schedules and so you can choose one that will have a schedule that suits you better. It may be that a one off payment is cheaper but if you spread the payments over a number of months it would be more manageable and could be worth the extra cost because you will have no risk of paying the charges associated with a late repayment.


So in conclusion, it can be worth getting quick loans for bad credit. However, it is extremely beneficial to make sure that you work hard to make sure that you make the best use of the loan. This means that you need to –

  • Check you really need it
  • Borrow the minimum amount
  • Find the cheapest loan
  • Repay it on time

quick loans for bad credit

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Omacl is a broker, not a lender, and does not make credit decisions.